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20130129
20130206
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Search Results 0 to 49 of about 79 (some duplicates have been removed)
a great night. ♪ lou: >> a very good evening. i'm lori rothman. the obama -- obama economy heading a stumbling block, suffering its first decline since the end of the recession. the government cutting spending and u.s. businesses trying down inventories in the fourth quarter causing the economy to contract for the first time in more than three years. u.s. gross domestic product falling a rate of a tenth of a percent, that is the worst performance since the second quarter of 2009. this is growing at a 3% clip in the third quarter of last year. the federal reserve today saying that growth has stalled, but telling the public temporary, pledging to continue with the easy money policy into the outlook for employment improved substantially, the news coming as somewhat of late surprised as economists predicted. the economy hit with super storm sandy in late october causing extensive damage along the east coast, seen as a major factor. economists see the same growth in excess of 3 percent will be needed to significantly lower unemployment and get at least some of the 23 million unemployed
.s. economy has gone into reverse, shrinking 1%. it is the first contraction since the financial crisis started. >> congress was sworn to come to a deal. the row over the fiscal cliff hit business confidence. analysts on wall street were expecting growth of 1%. the symbolism is huge. >> when people see a negative number, you worry if the economy is going into recession. when people look at the details, they see that under the surface, this was not such a bad report. >> there was a cut in government spending, particularly in the sense. consumer, and hence -- there was a cut in government spending, particularly in defense. the fiscal cliff has not been sorted, only put off for a few weeks. there is no sign of a deal between republicans and democrats. >> we need to look seriously at what is done with the government directly and indirectly. we will see some real budget reform take place. we might have a better economy in the future. >> the u.s. has lost its triple aaa credit rating. spending cuts and tax rises in the coming weeks. analysts have said these discussions would have little impac
of an economy. rich: if any of the amendments pass, the bill then heads back to the house. the senate will very likely said this bill to the president's desk this evening. the sequester beginning in march in a large portion of government authority running out march 7. if they fail to reach a spending puma we will have another government shutdown. back to you. connell: let's bring in band manager. -- let's bring in dan and. the president is a bully. is that what that means? >> clearly, john boehner is now understanding that what is going on is he is in the thunder dome. rather than in a good-faith negotiation with the president. i am so glad, dagen, in your introduction $450 at least twice. $450 billion is incomprehensible. the democrats are arguing that the to spend this money because they feel that with the economy weak public spending will lift the economy. every dime spent will raise the economy a dollar $0.50. the republicans are arguing that rather than say spend -- let's talk about this the questionnaire. rather than spend that $69 billion, let's take it and put that 69 billion back in th
and cuts in defense spending. it did not announce any new action to stimulate the economy. wall street reacted by giving up some of its recent gains. the dow jones industrial average lost 44 points to close at 13,910. the nasdaq fell 11 points to close at 3,142. those are some of the day's major stories. now, back to jeff. >> brown: whither the economy? that's been the question for quite a while now. today, there was a surprising and perhaps confusing new twist. the commerce department reported that gross domestic product actually shrank in the last quarter of 2012. the drop was small, one tenth of a percent. but it was still the first time economic output had fallen in three and a half years. government spending dropped, most dramatically in the defense sector. the report, though, also contained some positive developments: consumer spending and business investment were both up. and yesterday, the so-called case-shiller index found that housing prices grew in 20 major cities by an average of 5.5% over the previous year. it was the biggest gain in six years. we talk it through, with joe
, an unexpected jump of over 38,000 from the prior week's four year low. the obama economy seems stuck in neutral. recoveries fragile. yesterday the drop in gdp. tomorrow's january unemployment report expected to remain. critics said the president has not remained lazar focused on creating jobs, and the dissolution of the jobs council is just the latest example of that. fox news senior white house correspondent with our report. >> more than one year after his last meeting with the group, president obama is now reviewing the charter for is jobs council. the unemployment rate is falling a little more than a percentage point as the council's first meeting two years ago and no one in the white house says it has fallen far enough. officials defend the council's work in mr. obama's interaction with it. >> the jobs council provided us a series of ideas, many of which the president acted on. it did not require some leaves us ideas to be generated. >> from the start critics believe the council was intended to create the appearance of action in the face of soaring unemployment. it only met four times and h
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years, our economy shrank in the last three months of last year. that was unexpected, the markets were a lit aloof for awhile, but look where they're standing now. as you can see. we'll continue to cover breaking news on studio b. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? >> shep: the country, the economy shrank for the first time since last year, and it has taken economists by surprised. it slowed down 3.2% from the last quarter. and they are blaming a drop in exports, and factories shutting down after supe super storm san, and weighing down on the economy, the slowdown raising concerns about the ongoing recovery. jerry is with us, and you were saying a few minutes ago
bank independence. and not those. second, our concern is that japan is the third largest economy in the world. pursuing what looks like a deliberate policy of driving down the exchange rate that would potentially have destabilizing effects. after all, japan is not a deficit country. it is still like a strong external position. how would you want those two concerns with people outside japan and how they feel about what you are doing? [inaudible conversations] >> thank you, martin. first of all, you might say that it could undermine the central bank. in the case of japan so far. there has not been any undertakings to share the information that was recovered with the central bank. for the first time we came to an agreement of 2% inflation and the central bank declared that through our own efforts to achieve this ability and in the part of government, in order to achieve growth in the fiscal consolidation for both government and the bank of japan, apparently this is past. so that is the purpose of the joint statement. it is not any divergence from the international standard. then bas
. the economy is deteriorating. you can come up with any excuses you like. hurricane sandy did, the republicans or lower defense spending but the fact is numbers are what they are. the economy is contracting. layoffs are at far too high a level. if you dig into today's report, in december the holiday period our spending in america went up only .2%. a deteriorating economy, bill. bill: that is paltry. the gdp number, help me understand because they explain the drop-off with cuts to defense spending, right? if that is the case, is it only federal spending that is keeping us going in any direction? >> hold on a second. there is always an excuse. over the past four years whenever the economy has turned sour there has been an excuse. the japanese tsunami. the egyptian arab spring, the europeans, trouble in japan, the republicans, the downgrade, hurricane sandy. drop-off in defense spending. there is always an excuse. the fact is, we have never achieved a robust expansion since the end of the recession. now this latest go round yesterday when the economy showed to be contracting it was blamed on lowe
. you know, the average investor is seeing the economy make small improvements. we're seeing improvements in the housing market, consumer spending is going up. i spoke with one trader who was a little concerned that this is an artificial rally system littlit stimulated by the fed. >> you can say we have already been here. but you can say we came from the depths of despair, we're much higher but the thing that will cause people to continue to to be concerned is it still ahead of itself. is there a correction coming because the fed created this -- manufactured this rally. >> but, brooke, you know, think of the stock market as a big old rubber band. as much as it went down in 2009, march of 2009, the low for the dow was 6500, now we're seeing it bounce back almost to 14,000. you know how that is. what goes up, i don't want to say it, brooke. >> darn that economic gravity. alison kosik, thank you very much. we want to keep talking about this. we were thinking why doesn't wall street match what we're seeing on main street. we'll talk about that with steven moore, wall street journ
. it was probably a mistake. he wanted i am sure to show the appear ranges of activity while the economy has remained langwith for these years. we had a deep recession and sputtering and at that time the president wanted to show he cared. he created a blue ribbon commission. how come you are not meeting with them more. when will was the last time you met with them. why don't you talk to these people why don't you worry about jobs. at the closure it's embarrassing with such high unemployment, 23, 24 million people in the wrong situation just not the optics are bad. >> their mission was in the president's view an important one. a lot of people look at this as one, when president obama had a background he never ran a company and never worked for a company. he was a community organize he were and worked at a law firm. didn't work in business. so this was a way in which he would have outreach directly to the business community about their concerns and help guide his agenda toward creating more jobs. he barely met with them and now it's done, chris. is this not just an invitation for more criticis
't come back in. dealing with that is a critical component. >> that's a part of it. this economy cannot function without people to do the jobs americans won't do. >> quickly, with that said, we would be fooling ourselves this morning if we didn't look at this immigration debate and understand there might not be a tinge of the gun debate involved where you have people in new york and people in washington and people at the networks and national newspapers all supporting this and even a lot of the leaders inside washington d.c. where the rest of america is a bit more wary and skeptical. if you don't believe that, go to the conservative websites, the national review, go to several others. the "wall street journal" says it is a promising framework and i think it is. there are a lot of conservative outlets that have yet to weigh in on this aggressively. they will start that now. the phone calls will start the congressional offices and just like the gun debate, you will have people energized who want this bill killed and congress will get 10-1 calls against this immigration bill and they have
kindergarten to the time they leave higher education we must prepare them to succeed in a 21st century economy. and if we're sincere in our concern for the next generation, how we deal with one another matters. not only during the session but throughout the campaigns that bring us to hold these positions of public trust. every day our kids watch what we do, and every day they learn from us. so members of the 63rd legislature, what i ask of you tonight, it is simple and it's straightforward. first, be responsible with our budget because i won't allow us to spend more than we take in or make cuts that undermined our long-term stability. second, join me in focusing on creating jobs, improving our system of education, and making government more effective. and lastly, act in a manner that we're not ashamed to have our children watching because they are. i'm taking these principles to heart and we've already hit the ground running to better create better jobs, better schools and a more effective government. a company recently came to the state of montana and said they would like to locate a manufact
have cooled. all of this with a troubled economy at home and calls for a lighter footprint abroad. i'm pleased to have tom donilon back at this table. welcome. >> thank you, charlie. >> rose: we are now into a second term. what do we mean by lighter footprint? >> well, if we step back on that, at the beginning of 2012, the president after a multimonth review, close consultation with the uniformed military, the joint chief, service secretaries and combatant commanders around the world put together a new defense strategy. that defense strategy had to take into account that the budget control act required the defense budget over ot next ten years to be reduced by $500 million or so, a little less than that. and which would require a 5% decrease over what were the plans. and in doing that the president asked the military to think about what the new challenges were going to be. what were the real challenges we were going to face. and that defense strategy was comprehensive. and it had various pieces to it that we would look to agile forces, that we would look to having a global footprint.
. look what is going on in the u.s. economy because we got brand new jobs numbers that just came out and they show sluggish hiring in the month of january. the labor department reported that the national unemployment rate jumped a little bit, now 7.9% up from 7.8% from the previous month. that doesn't really include people who decided they wouldn't look for work anymore and dropped out of the workforce for the time-being. the latest report showed employers added 15,000 jobs last month, not enough to really stimulate the economy -- 157,000. or create a new jobs growth picture. bring in fox business network senior correspondent charles gasparino. what is your take on these? >> not uniformly terrible. we added jobs in prior months. revised some of the job additions upward. we did create jobs but what i will tell you is carry about this number the narrative remains the same. this is an extremely slow-growing economy that is producing jobs at a very meager rate. when more people look for jobs unemployment ticks up. a quirk in the numbers. takes too long to explain why. the narrative, mart
's. >>> jits not a pretty picture for trying to find work in the struggling economy. many found themselves deep in the hole because of student loans. the problem is getting worse with a record number of delinquencies reported. we get more from miguel almaguer. >> reporter: a graduate >> reporter: a graduate student, 22-year-old astrid will be $160,000 in debt before she lands her first job. >> i feel like that number doesn't really process in my head yet. it's just an imaginary number i know i have to pay off. >> reporter: she is one of the 26 million americans saddled with a ballooning student loan. like her classmates, she worried without a job after graduation, she'll become part of the record number of former students who are now defaulting or delinquent paying back loans. >> honestly, i don't know how i'm going to do it. >> reporter: with college costs on the rise, student loan debt is at an all-time high. topping $870 billion surpassing credit card debt and even auto loans. now a new study shows one-third of former students are considered risky borrowers. graduates who don't pay back thei
's paycheck went down as taxes went up. that will take $200 billion out of the economy. now you have got gas prices spiking. that's going to take even more money out of the economy just as the economy starts to slow down and contract. the timing as you said could not be worse. gregg: you are such a kill joy on a monday morning. stu varney. martha: so this spike at the pump appears to be no fluke but a part of an ongoing trend. gas prices have gone up for 18 consecutive days. 18 states have gas prices higher than the national average. they are feeling the pain of that more than the rest of the states. we are just getting started on this monday morning. gregg: ahead. a deadly chain reaction crash involving a tour bus. details on what investigators think went wrong in a live report. martha: president obama in his super bowl interview. he dropped a bit of news. he is pushing once again for increased revenues. there is only one way to get those these days when you have got an economy that's not growing. former president wash adviser karl rove is here with us next. gregg: a little boy in alabama s
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more trucks, she says it's not a leap that the economy is chugging along. trucking, in fact, is up in recent months. joel naroff said, with the holidays behind us, look at shoppers leaving the malls. are they empty handed or still carrying several bags? and paint prices. it's more than just a fresh coat. it the writing on the wall. more demand for paint and its key ingredients send the prices up. all things to watch for and tonight, the walters say they'll be looking, as they look for more places to travel to. >> we can think about those places we'd like to travel that are still on our bucket list. >> reporter: there are many places still on their bucket list. and you heard the economists there say, while we're not there yet, that the foundation of this recovery is real. watch for those trucks on the interstate, watch for the paint prices. when they start to go up, there's real demand. people are painting the walls. >> okay, the big picture tonight from david muir. thank you, david. >>> and we want to bring you up to date on the eerie sight in china tonight. you know they're battli
. president obama shifting focus back to the economy after encouraging economic news friday. >> home prices are starting to climb again and car sales at a five-year high. manufacturing is roaring back. the business created 2.2 million jobs last year and our economy created more jobs than econom t economists originally thought. >> jones industrial average closed about 14,000 on friday, the highest since 2007. the los angeles mayor has put an end to speculation that he will be joining the obama cabinet. there is talk he might be transportation secretary. he said he will finish out his term as mayor. in massachusetts, former senator scott brown said he will not be running for the senate seat vacated by john kerry, but there is speculation that brown could have his eye on the governor's seat when patrick steps down in 2014. we will take you to boston to big deeper into that story later in the show. a whole lot to get to first. vice president biden is in germany and talking international security with diplomats from around the globe. in his speech earlier he called the president a tyrant and sa
that jobs are being outsourced by the millions there will be more. we are a knowledge based economy and then we find that knowledge is pitifully narrow-based in this country when it it comes to the ability to employ people. we are paying a huge price and it's only begun. it's only begun because of this. these baby boomers as they reach 62 are taking early social security. they are going to be tapping. >> shannon: at a penalty. >> therefore even greater demand than expected on social security. we are watching the social safety net protect the lives of so many and without it, frankly, so many millions of people would be in even worse trouble. now that social safety net is going to be under such severe strain. it's going to threaten, i think -- there is the prospects it will threaten it to the point it will collapse. >> you mentioned homes which is negative for folks in this age group in another way if they have lost their job and trying to get back in, it's a much harder time for them to get back in other age group. if they have a home and underwater in it, they can't pick up and move
in chinese cyber attacks a threat to the u.s. and its economy. the moves come after "the washington post", "the new york times" and "the wall street journal" announced recent attacks on their computer systems suspected of original senating from china. social media site twitter as you say said friday dreamly sophisticated hackers from an unidentified source may have stolen the user names, e-mail addresses and passwords of 250,000 customers. now the u.s. has made little progress in negotiations with the chinese to stop this kind of hacking. now the u.s. is considering new economic and diplomatic steps to prevent it and according to "the financial times", more information-sharing between washington and private companies to protect critical systems and infrastructure like power grids and communications systems. >> we, you know, have had and been very clear about our substantial and growing concerns about the threats of economic to economic national security posed by cyber intrusions including the theft of commercial information. we have been clear with the government of china we need to cont
Search Results 0 to 49 of about 79 (some duplicates have been removed)